121 Pecan Blvd., McA.llen,TX 78501

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2 Property Renewal Quote for Meeting Page 1 of 1 From: Hayden Ellis <hellis@swkins.com> To: 'spiedc@aol.com' <spiedc@aol.com> Subject: Property Renewal Quote for Meeting 11/17 Date: Mon, Nov 9, :07 pm Attachments: SPI Economic Development Center Corp- Property.pdf (347K) Good afternoon Darla, Attached is the property renewal quote for the South Padre Island EDC. It looks to be a few thousand dollars cheaper than last year but this will be the most it could be. We have submitted for a few quotes with other companies and will send over as soon as we have those quotes. We have asked for the renewal for the general liability but it has not yet been received. I wouldn't anticipate it being much different than last year, but again we have submitted for other quotes and I will keep you updated. Please let me know if there is anything else you need before the meeting next Tuesday. Thank you, 121 Pecan Blvd., McA.llen,TX https :/ /mail.aol.com/webmail-std/ en-us/printmessage 11/10/2015

3 wholesale risk solutions 8144 Walnut Hill Lane, Suite 1400, Dallas, TX, Ph: (214) Fax: (214) Date: Total Pages: Name: General Lines Agent: From: Proposed Insured: Insurer: Proposed Term: Coverage: Premium: Agency Fee Policy Fee Surplus Lines Tax Stamping Office Fee Total: Nov 06, Tiffany Miller & Hayden Ellis Shepard Walton King Ins Group- Harlingen Ryan Handler South Padre Island Economic Dev Cntr Underwriters at Lloyds 12/21/ /21/2016 Property Standard Coverage $36, $ $ $1, $22.02 $38, TRIA Coverage (Optional) $3, Subject to Applicable Professional fees, surplus lines taxes and stamping fee which are in addition to amounts shown. Premium Notice: Commission: Premium is 25% earned at inception. Subject to wind-season cancellation penalty if coverage provided for any portion of wind season (June 1st through November 30th) 10% Comments: Subject to: Responsibility for Surplus Lines taxes and filings: Receipt of signed and dated Quote Details document at binding Our office is responsible for filing of applicable surplus lines forms and taxes.

4 wholesale risk solutions 8144 Walnut Hill Lane, Suite 1400, Dallas, TX, Ph: (214) Fax: (214) STATE DISCLAIMER This insurance contract is with an insurer not licensed to transact insurance in this state and is issued and delivered as surplus line coverage under the Texas insurance statutes. The Texas Department of Insurance does not audit the finances or review the solvency of the surplus lines insurer providing this coverage, and the insurer is not a member of the property and casualty insurance guaranty association created under Article C, Insurance Code. Section 12, Article , Insurance Code, requires payment of a 4.85% percent tax on gross premium. DEFINITIONS OF MINIMUM & DEPOSIT PREMIUM AND MINIMUM EARNED PREMIUM The following terms often cause confusion and misunderstanding, particularly among Insureds or producers not accustomed to dealing with surplus lines carriers. It is important that the definitions be understood. MINIMUM & DEPOSIT This is the amount of the premium due at inception. Although the policy is "ratable", that is, subject to adjustment based on a rate per exposure unit, under no circumstances will the annual earned premium be less than the minimum premium. In other words, the policy may generate an additional premium based on audit but not a return. If such a policy is canceled mid-term, the earned premium will be the greater of the annual minimum times the short rate or pro-rata factor, or the actual earned as determined by audit, subject to a short rate penalty if applicable. MINIMUM EARNED PREMIUM A minimum earned premium endorsement can be attached to either a flat charge policy or an adjustable policy. In either case, this amount is the least that will be retained by the carrier once the policy goes into effect. The amount retained will be the greater of the actual earned premium whether calculated on a pro-rata or short rate basis, or the minimum earned premium.

5 wholesale risk solutio 8144 Walnut Hill Lane, Suite 1400, Dallas, TX, Ph: (214) Fax: (214) The attached terms set out the benefits and coverage of the insurance we have quoted/indicated for you. Neither this letter nor the quotation/indication should be construed as providing any commitment to cover by the lnsurer(s) or as a confirmation of actual cover. This quotation/indication is valid for thirty (30) days from the date of this letter or until the proposed effective date, whichever is sooner, unless otherwise noted. It may be withdrawn or varied at any time prior to acceptance. We recommend that you read the quotation/indication very carefully, particularly sections that make reference to exclusions, special or unusual conditions, warranties, and claims notifications. Coverage may not be bound without prior consent from the lnsurer(s) as confirmed by Southwest Risk, LP. Southwest Risk, LP will not be responsible for any liability resulting from the issuance of any unauthorized endorsement or the issuance of an endorsement which has been authorized by the lnsurer(s) but where the authorized wording has been amended or revised in any way, without the prior written approval of the lnsurer(s). Please be advised that the terms and conditions offered by the lnsurer(s) may differ significantly from those requested in your submission. If you consider the quotation/indication does not reflect your requirements or there is an error in it, please contact us immediately. The Proposed Insured is offered certain insurance coverage summarized herein through the General Lines Agents referenced above, who represents to Southwest Risk, LP that it is a licensed general lines insurance agent. Southwest Risk, LP is a Texas licensed Surplus Lines Agent. Such placement is proposed to be made because General Lines Agent has made a diligent effort to place the coverage in the admitted market in the state. The insurance contract requested by the Proposed Insured, if issued, may be with an Insurer not licensed to transact insurance in the state and therefore will be issued and delivered as surplus lines coverage under the applicable insurance statutes. The state department of insurance does not audit the finances or review the solvency of the Surplus Lines Insurer providing coverage, and the Insurer is not a member of the state property and casualty insurance guaranty association which may be created under applicable insurance code. Insurance code may require payment of a tax on gross premium. General Lines Agent is the agent of the Proposed Insured. Southwest Risk, LP represents the Insurer and is not intended to be the agent of the Proposed Insured. Southwest Risk, LP will receive a commission from the Insurer and a professional fee from the Proposed Insured if the proposed coverage is issued.

6 **Estimated Commercial Property Quote** Coverage is underwritten by International Catastrophe Insurance Managers on behalf of the Company(ies) listed below. Coverage will be written on a Special Cause Of Loss form. Insurer Participation: If coverage is bound, each insurer will be responsible for its share of losses under the policy and will be severally (but not jointly) liable solely for its share. Insurer participation may change at the time of binding. All insurers are non-admitted. Insurer Underwriters at Lloyd's, A (XV) National Fire & Marine Insurance Company, A++ (XV) Perils All Perils Covered Under This Policy Expiring Policy Number: S-00 Insured: South Padre Island Economic Development Center Corporation 6801 Padre Blvd South Padre Island, TX United States of America All Other Causes of Loss Deductible: $2,500 per policy, per occurrence. Equipment Breakdown: $2,500 per policy, applied separately, per occurrence. Location 1: Location 1 Producer: Southwest Risk LP 8144 Walnut Hill Lane, Suite 1400 Dallas, TX License Number: N/ A Phone Number: Named Storm Deductible: 1% or $1,000, whichever is greater, by sum oftiv, per location, per occurrence. All Other Wind & Hail Deductible: 1% or $1,000, whichever is greater, by sum oftiv, per location, per occurrence. Location Level Coverage Business Income/Extra Expense/Rental Value Subject to a 50% monthly limit of indemnity. Limit $270,000 Premium $3,381

7 Building I: 6801 Padre Blvd, South Padre Island, TX Property Coverage Building Business Personal Property (including Tenant's Improvements and Betterments) Ordinance or Law Coverage Parts B&C are limited to a 10% sublimit of the building. Building Coverage Total Location 1 Summary Location Coverage Total Inspection Fees Limit $2,750,000 $1,300,000 Included $4,050,000 $4,320,000 Premium $22,315 $7,437 $2,232 $31,984 $35,365 $0 Expanded Coverages Package C Equipment Breakdown Coverage $2,500 per policy, applied separately, per occurrence Policy Coverage Total Limit Sub-limits as outlined below Not to Exceed Policy Limit $4,320,000 Premium $200 $435 Premium Total Inspections Fees Total Policy Fee $36,000 $0 $200 Terrorism coverage is available for additional premium for all quote options. The premium is subject to change for each quote. Coverage Extensions Replacement Cost (Building and Personal Property) Coinsurance Property In Transit Yes, Including "Stock" Waived Lesser of Business Personal Property ("BPP") Limit or $10,000 The following applies only if a Limit is shown for Business Income or Rental Value Extended Period Of Indemnity: 60 days

8 Coverages Under Building and Personal Property or Condominium Coverage Forms Additional Coverages Debris Removal Preservation of Property Fire Department Service Charge Pollutant Clean up And Removal Increased Cost of Construction Electronic Data Customers' Property in Your Covered Building Lock Replacement Fire Extinguisher Recharge Coverage Extensions Newly Acquired or Constructed Propetiy- Building Newly Acquired Business Personal Propetiy Personal Effects and Property of Others Propetiy Off Premises Outdoor Propetiy Non-Owned Detached Trailers Sub limit 25% of Loss or $10, Days $5,000 $10,000 Lesser of 5% of Building Limit or $10,000 $5,000 Lesser ofbpp Limit or $2,500 subject to $250 deductible $1,000 subject to $250 deductible $1,000 Sublimit Lesser of Building Limit or $250,000 Lesser ofbpp Limit or $100,000 $5,000 $15,000 $2,500 Limited to $250, per tree, plant or shrub Lesser ofbpp Limit or $5,000 Coverages Under ICAT Endorsements Coverage Sublimit Sewer, Drain, and Sump Back-Up, or Overflow Cause of $, Loss Extension Perimeter Extension Increased to 1000 Feet Utility Services- Direct Damage: $10,000 The following coverages apply only if a Limit for Business Personal Property ("BPP'~ is shown. These coverages are limited to the lesser of the sublimit listed below or the Limit shown for BPP: Theft, Disappearance, or Destruction of Money and Securities Robbery of a Custodian or Safe Burglary (Money and Securities Only) $2,500 $2,500 Accounts Receivable $10,000 Valuable Papers and Records $10,000 Commercial Fine Arts $10,000 Tenant Glass $5,000 Spoilage $10,000 The following coverage applies only if a Limit for Business Income or Extra Expense ("BIIEE'~ is shown. This coverage is limited to the lesser of the sublimit listed below or the Limit shown for BIIEE: Utility Services- Time Element: $10,000 Equipment Breakdown Additional Coverages and Sublimits These coverages are limited to the lesser of the sublimit listed below or the Policy Limit Pollutant Clean Up and Removal: $250,000

9 Expediting Expenses: Refrigerant Contamination: Spoilage: CFC RefHgerants: Computer Equipment: Valuable Papers and Records: Environmental, Safety, & Efficiency Improvements: Green Environmental & Efficiency Improvements: Service Interruption: Included $250,000 $250,000 Included Included Part of Valuable Papers and Records Limit Stated Above Up to 125% ofnon-"improved" Replacement Property Lesser of 125% ofnon-"green" Cost or $100,000 Included if coverage for BI/EE is Shown Above IMPORTANT INFORMATION Cancellation by Named Insured may result in a material wind-season cancellation penalty if coverage was provided for any portion of wind season (June 1st through November 30th). Minimum earned premium is 25%. Coinsurance does not apply All policy and inspection fees are fully earned. Risks located on the National Historic Registry are not eligible for coverage. Certain risks are subject to financial review. All bound risks will be inspected. Any bound risks which do not meet underwriting guidelines or which differ from the information submitted to Us may be subject to increased premium or cancellation. The Named Insured is required to maintain separate flood insurance as a condition for windstorm or hail, Named Windstorm, or Named Hurricane coverage for property located in a Special Flood Hazard Area (SFHA) which is within a mile of the ocean or other large body of water. (See Special Condition of Wind Coverage Endorsement (I CAT SCOL 60) for required limits and flood zones). Flood coverage is excluded (see Water Exclusion Endorsement (CP 10 32)). The completed and signed Quote Details document is required at the time of binding. Depending on loss experience, hard copy loss runs may be required. The following conditions apply in addition to standard ISO forms: Occurrence Limit of Liability (ICAT SCOL 200). Additions Under Construction Changes and Limitations (ICAT SCOL 220). The following exclusions apply in addition to standard ISO forms: Sinkhole Collapse Exclusion (I CAT SCOL 21 O(a)). Additional Property Not Covered (I CAT SCOL 221 ). Aluminum Wiring Exclusion (ICAT SCOL 230). Asbestos and Sick Building Exclusion (ICAT SCOL 232). Prior Loss Exclusion (ICAT SCOL 233).

10 Seepage and Pollution Exclusion (ICAT SCOL 234). Electronic Data Recognition Exclusion (ICAT SCOL 603). NMA0464 War and Civil War Exclusion. NMA1191 Radioactive Contamination Exclusion. NMA 2962 Biological or Chemical Materials Exclusion. The policy forms identified above are not a complete list of all forms which may be part of a policy. ICAT forms are available at ICAT Online along with the underwriting guidelines. CONDITIONS This Quote has been prepared with information supplied by the Producer. It is the Producer's responsibility to qualify risks from an underwriting standpoint. Coverage values are assumed to comply with 100% reconstructions cost guidelines. We will not honor coverage for any risk which does not meet International Catastrophe Insurance Managers, LLC's underwriting guidelines. The Company reserves the right to reject any submission. The Producer is responsible for calculation and remittance of all Surplus Lines Taxes and Fees. COVERAGE FOR A CAUSE OF LOSS QUOTED ABOVE RESULTING FROM A CERTIFIED ACT OF TERRORISM AS DEFINED BELOW IS AVAILABLE FOR AN ADDITIONAL $3,537 PLUS ANY APPLICABLE STATE-IMPOSED TAXES OR SURCHARGES. PLEASE SEE THE NOTICE OF TERRORISM COVERAGE DIRECTLY BELOW FOR IMPORTANT INFORMATION REGARDING THIS COVERAGE AND DISCUSS YOUR NEEDS WITH YOUR AGENT. POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE You are hereby notified that under the Terrorism Risk Insurance Act, as amended, that you have a right to purchase insurance coverage for losses resulting from acts of terrorism, as defined in Section 1 02(1) of the Act: The term "act of terrorism" means any act that is certified by the Secretary of the Treasury - in consultation with the Secretary of Homeland Security and the Attorney General of the United States- to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United States mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. YOU SHOULD KNOW THAT WHERE COVERAGE IS PROVIDED BY THIS POLICY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM, SUCH LOSSES MAY BE PARTIALLY REIMBURSED BY THE UNITED STATES GOVERNMENT UNDER A FORMULA ESTABLISHED BY FEDERAL LAW. HOWEVER, YOUR POLICY MAY CONTAIN OTHER EXCLUSIONS WHICH MIGHT AFFECT YOUR COVERAGE, SUCH AS AN EXCLUSION FOR NUCLEAR EVENTS. UNDER THE FORMULA, THE UNITED STATES GOVERNMENT PAYS THE FOLLOWING PORTIONS OF COVERED TERRORISM LOSSES EXCEEDING THE STATUTORILY ESTABLISHED DEDUCTIBLE PAID BY THE INSURANCE COMPANY PROVIDING THE COVERAGE: 85% OF COVERED TERRORISM

11 LOSSES THROUGH 2015; 84% BEGINNING ON JANUARY 1, 2016; 83% BEGINNING ON JANUARY 1, 2017; 82% BEGINNING ON JANUARY 1, 2018; 81% BEGINNING ON JANUARY 1, 2019; AND 80% BEGINNING ON JANUARY 1, THE PREMIUM CHARGED FOR THIS COVERAGE IS PROVIDED ABOVE AND DOES NOT INCLUDE ANY CHARGES FOR THE PORTION OF LOSS THAT MAY BE COVERED BY THE FEDERAL GOVERNMENT UNDER THE ACT. YOU SHOULD ALSO KNOW THAT THE TERRORISM RISK INSURANCE ACT, AS AMENDED, CONTAINS A $100 BILLION CAP THAT LIMITS U.S. GOVERNMENT REIMBURSEMENT AS WELL AS INSURERS' LIABILITY FOR LOSSES RESULTING FROM CERTIFIED ACTS OF TERRORISM WHEN THE AMOUNT OF SUCH LOSSES IN ANY ONE CALENDAR YEAR EXCEEDS $100 BILLION. IF THE AGGREGATE INSURED LOSSES FOR ALL INSURERS EXCEED $100 BILLION, YOUR COVERAGE MAY BE REDUCED.

12 Transaction Type: Renewal Renewal of Polley # NN3 92 o 1 o Rewrite of Policy# Cross Ref. Policy# NICQuote# Named Insured and Mailing Address (No., Street, Town or City, County, State, Zip Code} SPI Birding & Nature Centeri Economic Development corp. 600 Padre Blvd. South Padre Island TX COMMERCIAL LINES POLICY COMMON POLICY DECLARATIONS NAUTILUS INSURANCE COMPANY Scottsdale, Arizona Inspection Ordered: Agent and Mailing Address Agency No (No., Street, Town or City,, County, State, Zip Code} CRCjcrump Insurance Services, Inc Rambler Road Suite 300 Dallas TX Policy No. NN Cuua.nty Fund No.npuncipation Notice This W"Drance contract is with :w in.aui'er not licensed to trlid.sad insurance in this state and is issued :wd delivered u snrpbu line coverage under th!!> Texas insurance statute.s, The Texas Department of Insurance doecs not audit the fin:wc~:a or review the ;S:olvency of the s-u.rpbu line:s insurerproviding this. coverage~ _and the insurer is not a member of the property and casualty insurance guaranf:j.' aasoci.ation ereated under Chapter 462, Insurance Code. Chapter :l25,ined.rance Code, requires paj.rment of a_ 4.85 percent tax ou gro'ss premium. Policy././,~ NO FLAT CANCELLATION Period: From 12/21/2014 ( to 12/21/2015 t 12:01 A.M. Standard Time at your mailing address shown above. Business Description: Birdl~~':.:~ c er With Boardwalk & Exhibits Tax State!!._ Form of Business: Organization Including Corporation IN RETURN FOR THE PAYMENT OF THE PREMIUM, AND SUBJECT TO ALL THE TERMS OF THIS POLICY, WE WILL PROVIDE YOU THE INSURANCE STATED IN THIS POLICY. THIS POLICY CONSISTS OF THE FOLLOWING COVERAGE PARTS FOR WHICH A PREMIUM IS INDICATED. THIS PREMIUM MAY BE SUBJECT TO ADJUSTMENT. PREMIUM Commercial General Liability Coverage Part $~~~~~3~,~5~0~0~ ~0~0 $ $ ~ Tax & Fee Schedule Policy Fee surplus Lines Tax Stamping Fee $ $ $ $~~~~-- $...;.:..;:._;.;...;..;;...;_ TOTAL ADVANCE PREMIUM $,3"-"-"'5-"'-o"'-o,_,. o<...><..o Minimum & Deposit 2 28 TOTAL TAXES & FEES $ TOTAL $ --=..3.~...;, 9::..:8::..:6::...:...::5=8 Form(s) and Endorseme11t(s) made a part of this policy at time of issue: Refer to Schedule of Fortns an CRC Insurance Services, Inc Countersigned: Dallas, TX 01/15/2015 cv GL Count'\lrsignature or "'""'-"" THESE DECLARATIONS together WITH THE COMMON POLICY CONDITIONS, COVERAGE PART DECLARATIONS, COVERAGE PART COVERAGE FORM(S) AND FORMS AND ENDORSEMENTS, IF ANY, ISSUED TO FORM A PART THEREOF, complete THE ABOVE NUMBERED POLICY. Includes copyrighted material of Insurance Services Office, Inc., with its permission. EOO 1 (02/14)

13 NAUTILUS INSURANCE COMPANY A Stock Company COMMERCIAL LINES POLICY THIS POLICY IS NOT OBTAINED PRIMARILY FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES. THIS POLICY CONSISTS OF: - Declarations; ~ Common Policy Conditions; and -One or more Coverage Parts. A Coverage Part consists of: - One or more Coverage Forms; and -Applicable Forms and Endorsements. In Witness Whereof, we have caused this policy to be executed and attested, and, if required by state law, this policy shall not be valid unless countersigned by our authorized representative. Administrative Office: 7233 East Butherus Drive Scottsdale, Arizona Telephone (480) Facsimile (480) ~ERKLEYCOMPANY E001J (11/06)

14 POLICY NUMBER: NN Named Insured: SPI Birding & Nature Center; Economic Development Corp. SCHEDULE OF FORMS AND ENDORSEMENTS COMMON POLICY E001 E001J IL0017 E915 E906 S013 E907TX STATE (02/14) (11/06) (11/98) (07/13) (06/07) (07/09) (08/14) Nautilus Insurance Company Common Policy Declarations Nautilus Insurance company Commercial Lines Policy Jacket Common Policy Conditions U.S. Treasury Department's Office of Foreign Assets Control (OFAC) Advisory Notice to Policyholders Service of Suit Minimum Earned Premium Endorsement Important Notice (Texas) CG0103 IL0168 (06/06) (09/08) COMMERCIAL GENERAL S150 (07/09) CG0001 (12/04) CG0067 ( 03/05) CG2138 CG2146 (11/85) (07/98) CG2147 (07/98) CG2173 CG2196 (01/08) (03/05) IL0021 (09/08) L205 (02/08) L217 (06/07) L223 (06/07) L226 (06/06) L228 (11/14) L238 L240 (06/07) (06/07) L241 (07/09) L318 L408 (11/10) (03/12) L601 (12/09) LIABILITY Texas Changes Texas Changes - Duties commercial General Liability coverage Part Declarations Commercial General Liability coverage Form (Occurrence Version) Exclusion - Violation of Statutes That Govern s, Fax, Phone Calls or Other Methods of sending Material or Information Exclusion - Personal and Advertising Injury Abuse or Molestation Exclusion Employment-Related Practices Exclusion Exclusion of certified Acts of Terrorism Silica or Silica-Related Dust Exclusion Nuclear Energy Liability Exclusion Endorsement (Broad Form) Exclusion - Injury To Employees, Contractors, Volunteers and Other Workers Exclusion - Punitive or Exemplary Damages Exclusion - Total Pollution Exclusion - Contagious, Infectious or Transmissible Disease Exclusion - Communicable Disease Exclusion - Toxic Metals Limitation of Coverage to Designated Operations Exclusion - Microorganisms, Biological Organisms, Bioaerosols or Organic Contaminants Exclusion - Events Changes - Civil Union Or Domestic Partnership Amendment of Conditions - Premium Audit The forms and endorsements shown on this Schedule constitute the entire policy at the time of issuance (07/09) Page 1 of 2

15 POLICY NUMBER: NN Named Insured: SPI Birding & Nature Center i Economic Development Corp. L (05/09) (07/09) (02/95) (07/09) (04/99) (07/09) SCHEDULE OF FORMS AND ENDORSEMENTS Deductible Liability Insurance (Including Allocated Loss Adjustment Expense) Amendment of Definitions - Insured Contract (Incidental Contracts) Exclusion - Total Liquor Liability Conditional Exclusion - Water-Related Hazard Sign Posting Requirement Limitation of Coverage Exclusion - Asbestos The forms and endorsements shown on this Schedule constitute the entire policy atthe time of issuance (07/09) Page 2 of 2